Frequently Asked Questions:

Re: Savings Deposit:

1. Where and how does a member open a savings account with CBMPC?

• Deposit a minimum amount of ₱1,000 at any of the accounts in the name of CBMPC in any of the branches of the following banks:

(a) Land Bank of the Philippines — Account No. 3402-1011- 63;
(b) Banco de Oro — Account No. 004370045056; or
(c) Bank of the Philippine Islands Account No. 004933- 0622-74

• Indicate on the deposit slip the name of the member . Then, forward a copy of the deposit slip to CBMPC, which is either the duplicate hard copy or a photo sent through email or the messenger account of the coop
• CBMPC then books the deposit transaction and creates an individual ledger in the name of the member-depositor

2. Will CBMPC issue a passbook in the name of the member- depositor?

• Only when requested, for pick up at the CBMPC Office.

3. Where and how can the member make subsequent transactions (deposits or withdrawals) on his account?

• For deposits – (Same process as when opening an account)
• For withdrawals – Send instructions personally or through email or the messenger app of CBMPC, to debit his savings account with corresponding amount, whether to apply this to his loan or for deposit to his bank account.

4. Where and how can the member access or view his account?

• He may request CBMPC for a statement of account.

Re: Time Deposits

1. Where and how does a member apply for a Time Deposit account with CBMPC?

• Deposit a minimum of P5,000.00 (if to be placed in Regular Time Deposit) or a minimum of P200,000.00 (if to be placed in Special Time Deposit) at any of the accounts in the name of CBMPC in any of the branches of the following banks:

(a) Land Bank of the Philippines – Account No. 3402-1011-63;
(b) Banco de Oro – Account No. 004370045056; or
(c) Bank of the Philippine Islands Account No. 004933-0622-74

• Indicate on the deposit slip the name of the member . Then, forward a copy of the deposit slip to CBMPC, which is either the duplicate hard copy or a photo sent through email or the messenger account of the coop
• Send instructions personally or through email or the messenger app of CBMPC as to the term desired
• CBMPC then books the time deposit transaction and creates an individual ledger in the name of the member- depositor

2. Will a certificate of time deposit be issued in the name of the member-depositor?

• Yes, for pick up at the CBMPC Office.

3. What happens upon maturity of the time deposit?

• The member-depositor has the option to either rollover or withdraw his deposit.